TransCanada to cut spot rates for crude shipments to U.S. Midwest, Gulf Coast

TransCanada Corp’s Keystone Pipeline filed with U.S. regulators this week to lower spot rates to ship crude from Canada to Illinois, Oklahoma and Texas:

* TransCanada proposed to lower discounted rates for light crude volumes from or near Manitoba, Canada to Wood River, Illinois to $19.67 per cubic meter from $24.39, according a filing with the U.S. Federal Energy Regulatory Commission (FERC) this week; for heavy crude, it asked to cut rates to $21.70 from $25.79.

* The company proposed lowering tariffs for light crude shipped to Patoka, Illinois to $20 per cubic meter from $24.72 and to $21.63 from $26.35 for heavy crude.

* For deliveries to Cushing, it proposed to lower rates to $23.46 from $28.18 per cubic meter for light crude and to $24.76 from $29.48 per cubic meter.

* For spot shipments from Hardisty, Alberta to Port Arthur and Houston, Texas it proposed to lower rates to $8.05 per barrel for light crude and to $8.75 per barrel for heavy crude.

* The 590,000 barrels-per-day Keystone pipeline system is a critical artery taking Canadian crude from northern Alberta to refineries in the U.S. Midwest from there, via the Marketlink line to the Gulf Coast.